First Guaranty Reports Net Income of $8.1 Million for the Third Quarter of 2022; Earnings Per Common Share Increased to $0.70 for the Third Quarter of 2022 Compared to $0.67 for the Third Quarter of 2021
Retrieved on:
Friday, October 28, 2022
For the period from September 30, 2021, until September 30, 2022, Fed funds interest rates increased from 0.08% to 3.08%.
Key Points:
- For the period from September 30, 2021, until September 30, 2022, Fed funds interest rates increased from 0.08% to 3.08%.
- This management of our deposits allowed us to not only overcome other adversities of the marketplace; but, to increase our earnings.
- For the nine-month period ending September 30, 2022, our total interest income increased to $98,269,000 from $81,743,000, an increase of 20%.
- It means that our balance sheet has grown stronger so that we can remain a profitable, income producing asset, as we go forward.